Cereal maker Post Holdings Inc said it will purchase Michael Foods Inc for $2.45 billion to expand in the away-from-home breakfast business. Post said it will acquire the business from affiliates of GS Capital, Thomas H. Lee partners, and other owners and expects the deal to add to earnings per share, excluding transaction costs.
Post Holdings, Inc. is a consumer goods company operating in the center-of-the-store, active nutrition and private label food categories. Shares of POST traded higher by 5.66% or $2.93/share to $54.73. In the past year, the shares have traded as low as $38.31 and as high as $60.63. On average, 596702 shares of POST exchange hands on a given day and today's volume is recorded at 1728574.
Source
